Goldman Sachs Group Inc. Reduces Holdings in DT Midstream, Inc. $DTM

Key Points

• Goldman Sachs Group Inc. reduced its stake in DT Midstream, Inc. by 14.8%, owning approximately $268.05 million worth of shares after selling 483,211 shares.
• DT Midstream has announced a quarterly dividend of $0.82 per share, with a yield of 3.1%, to be paid on October 15th.
• The company's recent earnings report showed an EPS of $1.04, exceeding expectations, and analysts project a consensus target price of $110.67 for the stock.

Goldman Sachs Group Inc. decreased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,778,253 shares of the company's stock after selling 483,211 shares during the period. Goldman Sachs Group Inc. owned about 2.73% of DT Midstream worth $268,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of DTM. Zimmer Partners LP bought a new position in DT Midstream in the fourth quarter worth approximately $74,572,000. Vanguard Group Inc. increased its position in shares of DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after purchasing an additional 621,183 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares in the last quarter. GAMMA Investing LLC increased its position in shares of DT Midstream by 9,693.3% during the first quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after purchasing an additional 386,277 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company's stock worth $38,705,000 after purchasing an additional 378,877 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Mizuho upped their price target on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Wells Fargo & Company lifted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $110.67.

DT Midstream Price Performance

Shares of DTM traded up $0.01 during mid-day trading on Monday, hitting $106.51. 125,329 shares of the company were exchanged, compared to its average volume of 967,699. DT Midstream, Inc. has a 1-year low of $76.12 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average of $103.25 and a 200-day moving average of $101.02. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the prior year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. DT Midstream's dividend payout ratio is presently 87.94%.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.